Legal Tender is a coalition of experts, associations, and companies in the legal and regulated cannabis market advocating for equitable treatment by the Business Development Bank of Canada (BDC) and Federal Government.

The Problem at Hand.

The Business Development Bank of Canada (BDC) still denies funding to 300+ Health Canada license holders, as well as numerous ancillary businesses, because they produce, process, distribute, or sell legal cannabis. The BDC still views Cannabis as a high-risk industry, despite the work done within to improve on compliance, social responsibility, and economic contributions. This systemic problem is not newfound but recently came into focus as the COVID-19 crisis amplifies the potentially dire impact.

It’s not just cultivators that are affected, this policy affects all plant-touching business such as Import/Export, Distribution, Packaging, Production, Cultivation, Extraction, Genetics, and Retail.

The Positive Context.

The positive impact of legalizing the industry has been quite evident since October 17th, 2018:

Innovation & Risk-Mitigation.

Modern Tracking

Responsible Consumption

Keep cannabis away from youth while safely allowing adults to access it legally.

Product Innovation

Smoke-free cannabis formulations & delivery methods.

Opioid Replacement

The potential for cannabis to replace opioids for chronic pain patients.

Medical Research

Ongoing clinical, pre-clinical, and public health trials.

Crime Reduction

Protects public safety and provides relief to the criminal justice system.

Canada used Bill C-45 to legalize cannabis for two stated reasons: to keep cannabis out of the hands of children and youth, and combat the illicit market.

We ask that the Government of Canada keep these goals in mind when considering the reasonable needs of legal cannabis businesses.

The Solution.

Overall, we need the Government of Canada and the BDC to make sure legal cannabis businesses have access to stimulus funding, as well as equal access to banking opportunities. We see this happening through the implementation of the following:

Remove Ban on Cannabis

We ask that the BDC remove their sweeping ban on giving financial support to companies in the legal cannabis sector, as it does for most other sectors.

Financial Support

We ask that the BDC provide legal cannabis businesses with access to stimulus funding to the over 300 Health Canada license holders that produce, process, distribute, or sell legal cannabis that are affected by the Covid-19 pandemic.

Continued Support

We ask the Federal Government to ensure fair treatment of the legal cannabis industry by granting its participants equal opportunity access to tax benefit programs, credit facilities, loans, and everyday banking abilities.

Help the cannabis industry succeed in advocating for equitable treatment by the BDC and Federal Government.